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Taiwan president briefed ahead of possible US tariffs
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Taiwan president briefed ahead of possible US tariffs
Mar 30, 2025 7:08 PM

TAIPEI, March 31 (Reuters) - Taiwan President Lai

Ching-te met senior officials on Sunday night to discuss the

possible impact of U.S. tariffs and receive an update on

contingency plans, his office said on Monday.

Trump administration officials, including Treasury Secretary

Scott Bessent, have said that much of the reciprocal U.S. tariff

focus will be on 15 countries that have the highest trade

surpluses with the United States.

Bessent has referred to the countries as the "Dirty 15" but

has not named them. According to U.S. Census Bureau data, Taiwan

is one of the 15, along with countries such as China and South

Korea plus the European Union. The tariffs are due to be

announced on April 2.

Taiwan's presidential office said that Lai had met with

Premier Cho Jung-tai and other members of a working group on

Taiwan-U.S. trade at Lai's official residence on the latest

situation, the government's assessment and preparation of

various contingency plans.

The official reported on different scenarios for the tariffs

the United States is about to introduce, "simulated and

estimated the possible impact, and prepared contingency plans",

Lai's spokesperson Karen Kuo said in a statement.

Lai asked Cho and National Security Council

Secretary-General Joseph Wu to make the best possible responses

to ensure Taiwan's interests and economic and financial

stability, as well as to provide strong support and assistance

to industries that may be affected, Kuo added.

Taiwan runs a large trade surplus with the United States,

which surged 83% last year, with the island's exports to the

U.S. hitting a record $111.4 billion, driven by demand for

high-tech products such as semiconductors, a sector Taiwan

dominates.

Taiwan's benchmark stock index dropped more than 2%

on Monday morning on fears about the upcoming tariffs.

Trump said on Sunday that reciprocal tariffs he is set to

announce this week will include all nations, not just a smaller

group of 10 to 15 countries with the biggest trade imbalances.

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